Merck Delivers €21.1B 2025 Sales, Q4 Organic Growth of 2.6%, Guides €20–21.1B
Merck reported 2025 net sales of €21.1 billion, with Q4 organic sales up 2.6% and EBITDA rising 3.1% despite a 4% FX drag. It completed SpringWorks acquisition, reinforcing its rare diseases pillar, and guided 2026 net sales of €20.0–21.1 billion under continued FX and generic headwinds.
1. 2025 Financial Performance
Merck achieved net sales of €21.1 billion and EBITDA pre of €6.1 billion in 2025, marking 5.6% organic growth despite a 4% currency headwind. In Q4, organic sales rose 2.6% and EBITDA grew 3.1%, led by Life Science’s 4% organic gain, Healthcare’s 3.7% growth and mixed Electronics results with semiconductor materials posting high single-digit gains.
2. Strategic Developments and Investments
The company inaugurated a €500 million semiconductor solutions mega-site in Taiwan and opened a €100 million filtration technology facility in Ireland that will add over 200 jobs by 2028. It completed the SpringWorks acquisition to establish rare diseases as a growth pillar, acquired HUB Organoids and the JSR chromatography business, and announced CEO succession plans for 2026.
3. 2026 Guidance and Outlook
Merck guided group net sales of €20.0–21.1 billion and EBITDA pre of €5.5–6.0 billion for 2026, factoring in portfolio effects from SpringWorks and Surface Solutions, an assumed U.S. generic launch for MAVENCLAD after March, and continued foreign exchange volatility.